Swanky Marin mansion sold for... big bucks

Stephanie M. Lee

Updated 5:51 pm, Sunday, December 30, 2012

Photo: David Paul Morris, Bloomberg

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A dog lies on the floor near a piano in the living room of a 15,000 square-foot custom built home on Belvedere Island in Marin County, California, U.S., on Wednesday, Dec. 19, 2012. The builder couldn't find a buyer for the brand-new waterfront mansion he listed in January for $45 million. He hopes one will turn up at a Dec. 30 auction, where the starting bid will be $25 million. Photographer: David Paul Morris/Bloomberg

A dog lies on the floor near a piano in the living room of a 15,000 square-foot custom built home on Belvedere Island in Marin County, California, U.S., on Wednesday, Dec. 19, 2012. The builder couldn't find a

Furniture sits on the terrace of a 15,000 square-foot custom built home on Belvedere Island in Marin County, California, U.S., on Wednesday, Dec. 19, 2012. The builder couldn't find a buyer for the brand-new waterfront mansion he listed in January for $45 million. He hopes one will turn up at a Dec. 30 auction, where the starting bid will be $25 million. Photographer: David Paul Morris/Bloomberg

Furniture sits on the terrace of a 15,000 square-foot custom built home on Belvedere Island in Marin County, California, U.S., on Wednesday, Dec. 19, 2012. The builder couldn't find a buyer for the brand-new

The Golden Gate Bridge is seen in the view from a 15,000 square-foot custom built home on Belvedere Island in Marin County, California, U.S., on Wednesday, Dec. 19, 2012. The builder couldn't find a buyer for the brand-new waterfront mansion he listed in January for $45 million. He hopes one will turn up at a Dec. 30 auction, where the starting bid will be $25 million. Photographer: David Paul Morris/Bloomberg

The Golden Gate Bridge is seen in the view from a 15,000 square-foot custom built home on Belvedere Island in Marin County, California, U.S., on Wednesday, Dec. 19, 2012. The builder couldn't find a buyer for

Nearly every room of Villa Belvedere opens up to a bayside terrace. (Olivia Hsu Decker)

Nearly every room of Villa Belvedere opens up to a bayside terrace. (Olivia Hsu Decker)

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Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square feet and was designed by architect Sandy Walker.

Villa Belvedere, a waterfront home in Belvedere, is listed for $39 million and was the 2012 Marin Designer Showcase home. It looks out onto San Francisco and the Golden Gate Bridge and is nearly 10,000 square

(12-30) 17:32 Pst Belvedere -- One of the swankiest properties on the Bay Area market has been sold - but the price and the owner are for now a mystery.

A brand-new Belvedere Island mansion in Marin County , trumpeted by real estate agents as "Villa Belvedere," was scheduled to be auctioned off Sunday to bidders willing to fork over at least $25 million.

But before the auction, the developer accepted an offer from a buyer, said auction consultant Guy Masters.

Masters said that under a non-disclosure agreement, he could not reveal the selling price or buyer of the 15,500-square-foot, seven-bedroom home and its surrounding 1.14-acre waterfront lot. He would not say whether the property had sold for more or less than the $25 million asking price.

"I can only tell you it's under contract," he said.

Developer Jeff Paster spent about $34.5 million buying the property and building the massive edifice, which was completed early this year. It was first listed for $45 million, then $35.88 million before it was slated to go on the auction block.

The layout of the mansion, designed by architect Sandy Walker, is perhaps more stunning than the asking price, which was considered a bargain for such splashy digs.

Nearly every room offers picturesque views of the Golden Gate and Bay bridges, San Francisco, Alcatraz Island and the bay, which real estate agents noted would come in handy for the millionaire buyer who fancies watching the 2013 America's Cup races from the comfort of home.

The posh pad also includes eight full and two half-bathrooms, solar panels on the roof, wall-mounted iPads to control room conditions, a temperature-controlled wine cellar, a screening room, an indoor sauna, an elevator to all three floors, an outdoor pool and spa, and a terrace paved with fossil stones.

The Belvedere mansion is the latest of an increasing number of luxury homes that are on track to be sold while not in foreclosure, a welcome change from recent history, real estate agents said.

Properties that were recently sold at comparable prices include a $100 million Los Altos Hills mansion and a $28.8 million mansion on Broadway in San Francisco. Other homes in the Bay Area have sold for $23.5 million to $33 million in the last five years, according to the real estate researcher DataQuick.

But homeowners who have their hearts set on the Belvedere home - and who still have a few extra million bucks left over from Christmas - needn't despair.

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